Don't pay more than the minimum on your credit cards!

[Mitt Romneys sideburns]

Yea, an econ professor was like, "Everyone in this room has student loan and credit card debt. We are all part of the problem."

I was like, "Not me, fool"

 

[Chase]

true, I guess it only works if you go for fixed rate loans

I saw an interview on one of the news stations recently in which the guest claimed that you could deny interest rate increases by responding within 5 days of the credit card company's notice of changes of your term. You can keep paying the old balance down at the old rate.

Of course, if you use the card again, it can be taken as your agreement to changes in the terms...

I have not verified this personally.

 

[Suzu]

Apply for the Amazon.com Visa card if you don't have one yet. You get an instant $30 credit on anything sold at Amazon.com and you can transfer a balance to the card and get a very low interest rate, and/or use the "credit card checks" they send you each month. The checks have very low rates. I used one to pay for my dental work, there is a 3% fee on each check up front but you could get a really low rate like 2-3% until the balance is paid off.

 

[enjerth]

I saw an interview on one of the news stations recently in which the guest claimed that you could deny interest rate increases by responding within 5 days of the credit card company's notice of changes of your term. You can keep paying the old balance down at the old rate.

Of course, if you use the card again, it can be taken as your agreement to changes in the terms...

I have not verified this personally.

I had this problem with my Citi card (they jacked my rates from 6.99% to 14.99%) and they said I could just let them know if I don't agree to the new terms. The problem was that I never got notice of their new terms. I asked for them to send it again, and still never got it.

So I just transferred my balance to a new card with a 0% 12-month offer, 6.99% after 12 months.